WMF attracts strong investor interest
WMF, the German coffee machine maker, has attracted strong investor interest since being offered for sale by investment firm KKR, Boersen-Zeitung reported.
The German-language daily said it learned from financial sources that practically every well-known private equity fund and major producer of household appliances is interested.
An insider was cited as saying the bidders will be reduced in number at Easter. It is not known whether Chinese investors like Haier or Fosun will be in the running, according to the newspaper's information.
WMF earns two-thirds of its sales from coffee machines, while kitchen necessities such as pots and pans round out its business, the report said. The price for the company is expected to be EUR 1.5bn-EUR 2bn, according to the daily's information. It added that the sale process is being managed by Citi and Deutsche Bank.
Boersen-Zeitung